In its latest earnings statement, CONSOL Energy reported a net income of $71 million and cash flow from operations of $115.7 million. The company also reduced its debt by $26 million. The company said its capital spending plan calls for $20 million through 2019 in efficiency improvements.
“We delivered very strong operational and financial performance as we completed our first full quarter as an independent public company,” said Jimmy Brock, CEO of CONSOL Energy. “We outperformed most of our key guidance metrics and generated significant free cash flow, which gave us the confidence to accelerate de-leveraging as well as initiate modest stock buybacks earlier than expected.
